Golden Mile Resources (ASX: G88) has discovered high-grade gold covering at least 150m of strike length at shallow depths through a new aircore (‘AC’) drilling programme on the Monarch Gold Trend (MGT) at its Leonora East Gold Project in the North-Eastern Goldfields of WA.
The AC drilling programme was designed to infill known mineralisation at the historical Wildcat Prospect.
Managing Director, Lachlan Reynolds, said results of the drilling indicate that the structure at Wildcat contains high grade gold mineralisation at shallow depths that has continuity over at least 150 metres of strike length. The mineralised structure is open along strike and at depth.
We are very excited by these drilling results from Wildcat, which suggest that drilling has intersected the near surface part of a high grade mineralised system,” Mr Reynolds said.
“Further drilling is required to evaluate the full potential of this and other exploration targets in the area.
“Recent exploration successes by a number of companies in the WA Goldfields encourages us that drilling in and around historical high-grade deposits or workings has the potential to realise significant new gold resources and unlock previously unrecognised value.”
High grade gold mineralisation intersected in the aircore drilling programme included:1m @ 76.4 g/t gold from 37m downhole; 6 m @ 3.13 g/t gold from 40 m downhole (including 1m @ 5.15 g/t gold and 1m @ 11.4 g/t gold; 8m @ 2.58 g/t gold from 28m downhole; 2m @ 5.98 g/t gold from 55m downhole; and 1m @ 5.17 g/t gold from 21m downhole.
The Wildcat Prospect is associated with a number of significant, previously unknown geochemical anomalies along the MGT that Golden Mile has identified with an extensive auger sampling program. The sampling, in conjunction with investigation of the historical workings and drilling in the area identified a number of mineralised trends that justified further drill testing.
The company has previously reported historical drilling reverse circulation (RC) percussion drilling results from the Wildcat Prospect that date back to work completed by Concord Mining NL in 1987.
No other work has been completed on the area until the current AC drilling programme, which included 11 targeted drill holes to infill and confirm the high grades intersected in the previous drilling.
Mr Reynolds said the company considers the Wildcat Prospect to be a priority area for further drilling follow-up, in order to further extend the gold mineralised zone along strike and down dip.
Additional systematic aircore and reverse circulation drilling is currently being planned for the prospect area.